A mysterious group of hackers has taken New Zealand’s stock exchange offline during a busy corporate earnings season.
Little is known about the group other than they are demanding bitcoin payment as ransom. They are using DDoS (Distributed Denial of Service) attacks.
I am trained in the black arts of cybersecurity by Google and let me express my concern that a DDoS style of attack may be effective against U.S. stock market servers too. Here is how a DDoS attack works:
The stock market operator NZX said its networks had crashed due to the cyber attacks, which originated overseas.
“We are currently experiencing connectivity issues which appear similar to those caused by severe DDoS attacks from offshore this week,” NZX said after the market failed to open at 10am Wellington time.
New Zealand’s stock exchange failed to resume trading on Friday, suffering a fourth day of disruption amid cyber attacks from abroad. Jackie Edwards reports on “Bloomberg Daybreak: Asia.”